Analysts Set MediaAlpha, Inc. (NYSE:MAX) Price Target at $24.29

MediaAlpha, Inc. (NYSE:MAX) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.29.

Several analysts have weighed in on MAX shares. Royal Bank of Canada boosted their price objective on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $26.00 target price (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price target for the company. Finally, TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th.

Institutional Trading of MediaAlpha

Large investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC purchased a new position in shares of MediaAlpha during the 1st quarter worth approximately $22,181,000. Driehaus Capital Management LLC lifted its position in MediaAlpha by 208.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after acquiring an additional 970,840 shares during the period. Divisadero Street Capital Management LP purchased a new position in MediaAlpha during the 2nd quarter valued at about $7,956,000. Emerald Advisers LLC boosted its stake in MediaAlpha by 51,407.5% during the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after acquiring an additional 597,355 shares in the last quarter. Finally, Clearline Capital LP grew its holdings in MediaAlpha by 1,255.3% in the second quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after purchasing an additional 534,176 shares during the period. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Up 0.1 %

MediaAlpha stock opened at $17.51 on Friday. The firm has a fifty day simple moving average of $16.03 and a two-hundred day simple moving average of $17.52. MediaAlpha has a twelve month low of $7.62 and a twelve month high of $25.78. The company has a market capitalization of $1.15 billion, a PE ratio of -25.75 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. The company’s revenue was up 110.3% on a year-over-year basis. During the same period last year, the firm posted ($0.32) EPS. As a group, equities analysts expect that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.